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KwaZulu-Natal Business 2021-22

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The 2021/22 edition of KwaZulu-Natal Business is the 13th issue of this unique guide to business and investment in KwaZulu-Natal Province in South Africa. Launched in 2008, this annual journal has established itself as the premier business and investment guide for the province. In addition to the regular articles providing insight into each of the key economic sectors of the province, there is a special report on the prospect of increasing exports on the back of the signing of a continental free trade agreement. The province’s export infrastructure is examined and the diversity and export successes of several companies in a wide range of sectors are noted. The increasing importance of the Oceans Economy to the future of the provincial and national economy is relevant to any examination of the economy of KwaZulu-Natal. This applies as much to trade and ship-repair as it does to the exciting gas discoveries which have been made off the coast of Mozambique and South Africa. To complement the extensive local, national and international distribution of the print edition, the full content can also be viewed online at Updated information on KwaZulu-Natal is also available through our monthly e-newsletter, which you can subscribe to online at

Producing crops that

Producing crops that feed our country’s growth Standard Bank supports the full agribusiness value chain. I n KwaZulu-Natal sugar is like gold. Large-scale sugar production has always played an important role in KwaZulu-Natal’s history and the sugar industry is a significant part of South Africa’s economy given its agricultural and industrial investment and significance as a foreign exchange earner. A R16-billion industry, it is a large employer with 85 000 direct jobs and an estimated 350 000 jobs indirectly attributable to sugar production. KwaZulu-Natal is responsible for nearly 80% of the country’s sugar production, with 20 000 growers producing 1.68-million tons of sugar annually. Standard Bank provides banking services and finance to the entire value chain of this vital industry, from input suppliers such as cooperatives and chemical companies to contractors and transporters, as well as specialist services and the growers and millers. We consider all types of agricultural finance, from tailor-made long-term products for purchases of fixtures and property, mid-term asset finance as well as looking after short-term working capital needs for operational costs and seasonal expenses. Transactional banking, hire purchase, credit and fleet management are also vital for cane hauliers. Agribusiness offering While many sectors in South Africa struggled in 2020 because of Covid-19 restrictions, agriculture enjoyed a strong year. According to Statistics South Africa the agriculture, forestry and fisheries sector’s Q3 2020 seasonally adjusted and annualised growth rate was 18.5% and was valued at R79.4-billion. While agriculture remains the biggest contributor to South Africa’s GDP, it is easy to forget its importance and the impact it has on our lives – producing crops that are crucial to our country’s growth. That’s why Standard Bank is committed to providing farmers with a full banking suite. Agriculture is a specialised sector with more than 30 sub-industries, and a vast field of knowledge is required to understand each subsector and how each of these industries’ cycles are integrated. With 35 in-field agents located in all provinces who are experts in those specific geographical areas, we are able to assist with cash flow and financial planning. Standard Bank continues to prioritise providing a world-class service, knowledge and expertise. We believe that when a farmer wins, we all win. ■ Image by Jan Kopřiva on Unsplash

OUR FARMERS ARE A REAL TREAT. Their hard work and dedication sweeten the deal. That’s why Standard Bank supports farmers, offering a full banking suite that includes everything from agricultural production loans to crop insurance. Find out more at 29 KWAZULU-NATAL BUSINESS 2021/22 Standard Bank is an authorised financial services and registered credit provider (NCRCP15). The Standard Bank of South Africa Limited (Reg. No. 1962/000738/06). GMS-17909 02/21

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